TD Private Client Wealth LLC Has $130,000 Holdings in Kontoor Brands, Inc. (NYSE:KTB)

TD Private Client Wealth LLC boosted its stake in shares of Kontoor Brands, Inc. (NYSE:KTB) by 35.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,594 shares of the company’s stock after buying an additional 419 shares during the period. TD Private Client Wealth LLC’s holdings in Kontoor Brands were worth $130,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of KTB. Jennison Associates LLC increased its holdings in shares of Kontoor Brands by 73.2% in the 3rd quarter. Jennison Associates LLC now owns 757,426 shares of the company’s stock valued at $61,942,000 after purchasing an additional 320,117 shares during the period. Millennium Management LLC increased its holdings in shares of Kontoor Brands by 351.7% in the 2nd quarter. Millennium Management LLC now owns 347,325 shares of the company’s stock valued at $22,976,000 after purchasing an additional 270,427 shares during the period. Marshall Wace LLP increased its holdings in shares of Kontoor Brands by 159.0% in the 2nd quarter. Marshall Wace LLP now owns 335,385 shares of the company’s stock valued at $22,186,000 after purchasing an additional 205,885 shares during the period. Pacer Advisors Inc. increased its holdings in shares of Kontoor Brands by 10.9% in the 2nd quarter. Pacer Advisors Inc. now owns 2,043,637 shares of the company’s stock valued at $135,187,000 after purchasing an additional 201,399 shares during the period. Finally, Bwcp LP acquired a new position in shares of Kontoor Brands in the 2nd quarter valued at about $11,890,000. Institutional investors and hedge funds own 93.06% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on KTB. Wells Fargo & Company upped their target price on Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Barclays upped their target price on Kontoor Brands from $83.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, November 1st. UBS Group increased their price objective on Kontoor Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Guggenheim increased their price objective on Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Stifel Nicolaus downgraded Kontoor Brands from a “buy” rating to a “hold” rating and increased their price objective for the stock from $89.00 to $93.00 in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $95.00.

Kontoor Brands Trading Down 0.4 %

Shares of KTB stock opened at $88.86 on Monday. Kontoor Brands, Inc. has a 12 month low of $52.95 and a 12 month high of $94.82. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. The business’s 50 day moving average is $86.11 and its two-hundred day moving average is $76.52. The company has a market cap of $4.90 billion, a PE ratio of 20.01, a price-to-earnings-growth ratio of 2.31 and a beta of 1.20.

Kontoor Brands (NYSE:KTB) last announced its earnings results on Thursday, October 31st. The company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.26 by $0.11. The firm had revenue of $670.19 million for the quarter, compared to the consensus estimate of $663.45 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.22 EPS. Equities analysts predict that Kontoor Brands, Inc. will post 4.83 EPS for the current year.

Kontoor Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Monday, December 9th will be given a dividend of $0.52 per share. This is a positive change from Kontoor Brands’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, December 9th. This represents a $2.08 dividend on an annualized basis and a yield of 2.34%. Kontoor Brands’s payout ratio is currently 46.85%.

Insiders Place Their Bets

In other Kontoor Brands news, CEO Scott H. Baxter sold 119,160 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $83.60, for a total transaction of $9,961,776.00. Following the completion of the transaction, the chief executive officer now owns 331,916 shares of the company’s stock, valued at $27,748,177.60. The trade was a 26.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $80.71, for a total transaction of $729,537.69. Following the transaction, the executive vice president now directly owns 18,179 shares of the company’s stock, valued at approximately $1,467,227.09. This represents a 33.21 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

Kontoor Brands Company Profile

Kontoor Brands, Inc, a lifestyle apparel company, designs, produces, procures, markets, distributes, and licenses denim, apparel, footwear, and accessories, primarily under the Wrangler and Lee brands. The company operates through two segments: Wrangler and Lee. It licenses and sells apparel under the Rock & Republic brand name.